What's My Springboro Ohio Home Worth? November 2014 Update

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

What's My Springboro Ohio Home Worth?  November 2014 Update
8102 Hidden Ridge Ct in Stone Ridge The Woods is listed by us!

Recently Sold by The Liz Spear Team of RE/MAX Elite in Springboro's Stone Ridge The Woods

We've had snow.  We've had the annual Springboro Christmas Festival.  We're watching the final month of 2014 rapidly come to a close.  Typically that means the local real estate market starts trending down into the slower season pending the warmth of Spring. Is that holding true this year for Springboro?

Stay with us for the full report and our advice for potential Springboro home sellers and buyers.  And if you want to search Springboro homes for sale, we've got search for Springboro homes for sale links at the bottom of the report. 

This report covers the Springboro Community School district single family homes (so portions of surrounding townships will be included e.g. Clearcreek & Turtlecreek).  This report will only cover single family homes and not include condominium data.  Data is derived from the Dayton MLS only, so homes sold without Dayton MLS entry will NOT be included in this review.

The Springboro area is popular, especially with residents seeking to commute into Dayton (easy access with I75 and SR741), and even works well for those not minding a bit longer commute south to the Cincinnati area.  Springboro is a good choice for couples where one works in Dayton and the other in Cincinnati.

Springboro Community Schools are among the state's best public schools per the Ohio Department of Education ratings.  Additionally Springboro was selected #42 in U.S. in 2011 by Money magazine for Best Small Cities To Live and probably would have made the 2013 list, but Money magazine changed the rules to only one town per county and Mason got the nod.  Area residents have known for some time Springboro is a great place to live, so nice to see the same recognition nationally!   

Keep in mind that some homes may only be listed in the Cincinnati MLS and will not be included in this report.  We STRONGLY recommend any Springboro resident selling their home hire a REALTOR(R) with access to BOTH Cincinnati and Dayton MLS.

The Springboro area offers a full range of price points, and features an older historic area, developments of older homes, new subdivisions and rural options.  There are also golf course communities, luxury home communities, patio home communities .... basically there's something for every home buyer's taste and budget.


Stone Ridge The Woods of Springboro Ohio 45066

Stone Ridge, A Clearcreek Township community with Springboro Schools

So, on to the data!
 
First up is the number of Springboro single family homes sold on a month by month basis starting in 2010 and carrying forward to present:


Springboro Ohio Residential Home Market Report
Next is the Springboro median price summary chart.
Springboro Single Family Home Market Report

 Springboro Single Family Home Summary:

Homes Sold:  31 (0 Bank/Government Owned, 0 Short Sale) UP 5

Average Price:  $260.066 DOWN $44kSpringboro Ohio patio home

Median Price:  $240,000 DOWN $82k

Days on Market Average:  120 UP 30

Homes Active 12/6/14:  201 DOWN 29

Homes Pending 12/6/14:  42 UP 3

Average Sales/List %: 96.6 DOWN 1.7%

Most Expensive Home Sold:  $749,900

Least Expensive Home Sold:  $76,900

 

So what does this all mean?   There are some key takeaways:

  • 'Tis the season for a mixed bag from Santa!  Some positive news, some not so positive!
  • First, it may SEEM like the bottom fell out of the prices, but not so!  There's a hazard with comparing each month to the next, especially when the baseline month was phenomenal for prices!  October had the highest median and average prices we'd seen in years with a heavy slant to luxury homes.  This month we returned to a more typical mix of homes:  2 below $100,000, 13 above $300k to include 2 above $400k and then the HUGE jump to the home at $749k!  Compare November's median to other 2014 months and you'll see we're actually doing just fine this month!
  • Now as for the rest, more homes sold than would have been expected, and we even have more homes under contract!  On the other hand, a little slower average time for getting an accepted contract.  The more aggressively a home is priced and marketed the better the odds of shortening that time frame.
  • Distressed properties remain scarce.  If you come to Springboro with the mindset that you will ONLY buy a foreclosed home, you're not going to be happy with the selection.  Out of 201 homes not under contract, there are ONLY 3 foreclosures and 4 short sales available.  And of the 31 homes sold in November, NONE were short sale or foreclosed.  That's another consecutive month with no completed short sale or foreclosure.
  • Don't expect huge discounts from asking price.  While some homes ARE overpriced, most are priced fairly for the market as evidenced by the 96.6% sales to asking price ratio.
  • At 201 homes for sale, you might think that's plentiful, but you may find it's actually a shortage of inventory if you have specific needs.

Bottom line:  Springboro CONTINUES to be one of your best choices for buying a home in the Cincinnati/Dayton corridor.

 

So what does this mean to you as a Springboro single family home owner?  We're sticking with last month's advice because the base factors influencing the Springboro market have NOT changed. The only real change is there are fewer buyers looking this time of year, so if you get a solid offer, do what you can to get to terms and keep it on track.

Springboro is still high demand, great market stability with distressed properties having almost no impact.  Price right, market right and your sale will come, you just need to be patient and of course hire the right real estate team to take care of those details (give us a call at 513-520-5305).  We do expect the market to continue to be slow over the next couple of months.

If you're a luxury home seller keep in mind you're competing against custom home new construction in communities like Country Brook and Silver Lake.  Combine that with fewer buyers able to afford luxury homes and you realize the market slice is MUCH smaller for you. 

For an evaluation of your home's marketability, please contact us at 513-520-5305.  And of course your personal circumstances will have impact of the right decision.  We'll give you our best advice, whether to start now, or wait.

 

So what does this mean to you as a potential Springboro home buyer? 

NO REASON TO CHANGE THIS ADVICE EITHER:  

Springboro is a competitive market for the best homes.  Sitting on the fence and hoping for a price drop may be a really bad strategy.  That 96.6% sold price vs. asking price tells you homes that are selling are still on target with price.  Foreclosure bargains?  Basically nonexistent. 

Like a Springboro home for sale?  Be prepared to pay for the great condition homes in the best developments. 

Springboro offers a lot of prime factors to make it home:  great schools, great location, great community.  There are quite a few newer homes for sale in communities such as Settlers Walk, and some older subdivisions provide the lower end of the shopping price point. New construction is also available in some communities.  If you find a home you love, ACT immediately or some other buyer may take it first. 

Want to search Springboro Homes For Sale?  Use these Cincinnati MLS links for a partial snapshot.  For a COMPLETE overview of both Cincinnati and Dayton MLS homes, contact us and we'll provide a full list for your convenience.

Search Springboro Ohio 45066 Homes For Sale Under $200,000

Search Springboro Ohio 45066 Homes For Sale $200,000 to $400,000 

Search Springboro Ohio 45066 Homes For Sale $400,000 and Up

When you're interested in buying a Springboro home, please contact us  at 513-520-5305 or email Liz@Lizspear.com with your needs and we'll help you find the right Springboro community for you!  Why not take advantage of the extremely low interest rates and get your Springboro home before prices climb higher?

Serving Springboro's home buyers and sellers,
Liz and Bill aka BLiz

 

Recent Springboro Reports:

October 2014 Springboro Real Estate Market Report

September 2014 Springboro Real Estate Market Report

August 2014 Springboro Real Estate Market Report

July 2014 Springboro Real Estate Market Report

June 2014 Springboro Real Estate Market Report

May 2014 Springboro Real Estate Market Report

April 2014 Springboro Real Estate Market Report

March 2014 Springboro Real Estate Market Report

February 2014 Springboro Real Estate Market Report

January 2014 Springboro Real Estate Market Report

December 2013 Springboro Real Estate Market Report

November 2013 Springboro Real Estate Market Report

October 2013 Springboro Real Estate Market Report

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Ohio Warren County Springboro
Groups:
RE/MAX Active Rain Bloggers
Ohio Active Rainers
Market Reports
Tags:
market report
springboro

Spam prevention
Show All Comments
Rainmaker
1,523,705
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Nice market report with graphs so people can see the market changes.

Dec 06, 2014 09:38 AM #1
Ambassador
2,736,040
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Sybil, Almost time to add another year column, I'll have to watch and see if it is too cluttered at 6 wide.

Dec 06, 2014 09:52 AM #2
Ambassador
2,300,879
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

That is a ton of information on Springboro homes and the market there!  You re certainly the agent to call about buying or selling a home in Springboro.

Dec 06, 2014 10:31 AM #3
Rainmaker
2,318,877
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: As your local readers have grown to expect from The Liz Spear Team, this Springboro real estate market report leaves no stone unturned. Nicely done.

Dec 06, 2014 10:56 AM #4
Ambassador
1,985,858
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Great job on this market report.  Numbers alone don't tell the whole story, your explanations demonstrate your knowledge of the market and your expertise!

Dec 06, 2014 11:00 AM #5
Rainmaker
938,053
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Bliz, great source of information for relocation buyers in Springboro, OH. It shows that you are the local expert.

Dec 06, 2014 11:02 AM #6
Ambassador
2,736,040
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Judi, We've helped quite a few buyers and sellers in Springboro, we just need the call to let us help the next ones :)

Anita, Thanks!  Always nice to see the sales quantity this strong this late in the year.

Silvia, We've always felt that in the interpretation of the data is where we can add true value.

Kwee, We watch our markets closely and seek to share our observations.

Dec 06, 2014 11:30 AM #7
Ambassador
3,983,742
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

HI BLiz, This is packed full of good information that will cause the phone to ring. I just wanted to let you know I wrote about your market reports in my Saturday Subscriber Finds today. I hope you will check it out.

Dec 06, 2014 12:11 PM #8
Rainmaker
1,338,792
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Hi Liz and Bill,

This a great, information packed market report!

Dec 06, 2014 12:18 PM #9
Ambassador
4,071,112
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Bliz

A really nicely done and thorough real estate market report for the Springboro area. The only other things buyers and sellers need is to call you for help in buying or selling a Springboro home

Jeff

Dec 06, 2014 12:18 PM #10
Ambassador
1,297,785
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Blizzard - a really really well done market report!    I am very impressed with the amount of information here!

Dec 06, 2014 08:36 PM #11
Ambassador
2,736,040
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Debbie, Thanks for the mention in your post!

Wayne & Jean Marie, Thanks!  We try to be very thorough with our market reports.

Jeff, Springboro is an area we enjoy working, and as you said, we just need the buyers and sellers to initiate contact with us.

Dagny, Thanks!  Each of our reports holds the same core data and interpretations for area buyers and sellers.

Dec 07, 2014 02:58 AM #12
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,736,040

Liz and Bill Spear

RE/MAX Elite Warren County OH (Cincinnati/Dayton)
How Can We Help You? Just Let Us Know!
*
*
*
*
Spam prevention

Additional Information